This week’s deal of the week is about one that got away. Reuters reports that US-based food business Darling International is to buy Dutch meat producer Vion’s ingredients division for EUR 1.6 billion.
It was a “blow to private equity firms bidding for the unit”, say the report, which explained that Darling won a competitive auction to buy the business that attracted interest from private equity firms Advent, Apollo, CVC and Permira as well as German trade buyer Saria and private equity firms.
In a background section, Reuters said that Vion Ingredients is headquartered in the Netherlands. It employs 6,000 staff and produces gelatine, proteins and fats from slaughterhouse byproducts which are then sold to the pharmaceutical, cosmetics, food, feed, tech, and energy.